“We did have a vote yesterday on a new package and there were six improvements over the last package we rejected,” Helton said. “Based on the six improvements, the union ratified the contract and we’re back to work today (Monday).”
The Oxford union members went on strike beginning Oct. 6 after previous contract negotiations failed, but union and company representatives returned to the negotiating table last week.
Schneider Electric says it employs a total 379 full-time hourly and salary people at the Oxford plant, located at 5160 College Corner Pike.
“We are very pleased to have ratified (an) agreement,” said Ted Klee, Schneider Electric senior vice president of Global Supply Chain North America, in a provided statement.
“This agreement satisfies the needs of our customers, employees, investors, partners and other stakeholders and is competitive for all involved,” Klee said.
French-based Schneider Electric was negotiating new labor contracts with IBEW, the International Association of Machinists and the International Brotherhood of Teamsters, representing six bargaining units at facilities nationwide. Union members at four manufacturing facilities ratified a new contract, effective at midnight Oct. 6.
The two remaining union chapters — IBEW’s Local 2287 in Oxford, and an IAM-organized facility in Peru, Ind. — ended their two-week strikes and ratified new agreements Sunday.
The company’s latest proposal contained these improvements: an increased signing bonus for union members to $1,600 for ratifying the contract; an improvement to the way wages are calculated; an annual lump sum payment to offset increased health insurance premiums; and higher retirement contributions, Helton said.
One of the biggest issues union members had with the company’s original contract proposal was plans to freeze the pension, Helton said. The pension plan will still be frozen, but Helton said the company’s contribution to workers’ 401(k) plans will be greater under the new ratified agreement.
“It was a devastating loss to lose that pension, however, with the six improvements that we got, it was enough to satisfy the membership. It was an acceptable contract,” Helton said.
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